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Why is life insurance important?

  • It covers your financial commitments. 
  • It allows your family to maintain their standard of living. 
  • It covers death-related expenses.
  • It allows you to leave a legacy. 
  • It ensures business continuity. 
  • It completes life insurance coverage offered through your employer.


  • You are never too young to buy life insurance, since the younger you are, the lower the cost of your premium, no matter what type of coverage you choose. 
  • You can always re-evaluate which type of insurance is right for you to ensure you are properly covered.

We offer 5 types of life insurance to meet your needs

Term life insurance

Affordable coverage to meet your temporary needs

Protects your loved ones for a pre-determined period while you have greater financial commitments.

It's the ideal solution if:

  • You have dependent children and are on a tight budget
  • You have short- and medium-term loans to repay

Permanent life insurance

Lifetime insurance coverage

Permanently protects your family and your legacy.

It's the ideal solution if:

  • You would like to leave a legacy
  • You would like to be protected, even if your health changes
  • You would like to ensure the continuity of your business

Participating life insurance

Permanent life insurance that ensures the growth of your estate

Protects your family while giving you access to dividends1.

1 Annual participations are not guaranteed and vary annually.

It's the ideal solution if:

  • You want to leave a larger estate to your loved ones and, if needed, benefit from liquidity for your retirement
  • You want to offer your children or grandchildren a solid financial foundation
  • You are a business owner looking for life insurance coverage which generates growth

Universal life insurance

A combination of permanent life insurance and savings

Offers you lifetime coverage and the opportunity to save with certain tax benefits.

It's the ideal solution if:

  • You would like to leave a significant inheritance
  • You have contributed the maximum amount to your RRSP and your TFSA
  • You would like to protect the value of your company

Specialized life insurance

Specialized life insurance to build and protect your wealth

Legacy offers you guaranteed permanent life insurance which includes excellent short-term surrender values, an annual bonus that allows you to increase the total surrender value and death benefit, as well as a wide range of investment options.

It's the ideal solution if:

  • You want to maximize the wealth you will transfer to your loved ones
  • You want to take advantage of the surrender value in the short-term as a source of liquidity
  • You are a business owner and are looking for life insurance coverage that will generate growth
  • You want to diversify your assets and gain access to asset classes generally reserved for the institutional market

Invested in your future!

Because half our new clients are newcomers to Canada, we understand your unique needs and challenges when starting a new life here. Discover our insurance and savings brochures, available in Chinese and Punjabi.

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Compare the different kinds of life insurance we offer

Compare the different kinds of life insurance we offer
Term Permanent Universal Specialized Participating
Coverage term 10 to 40 years For life For life For life For life
Cost $ $$ $$$ $$$$$ $$$$$
Cash value
Savings component
Annual participations1
1 Annual participations are not guaranteed and vary annually.

Have you ever been able to predict the future?

Neither have we! There are many myths about life insurance and we are here to dispel them.

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Life insurance is a tax-free amount paid in case of death that may include a cash surrunder value depending on the type of product.

The insured person chooses the type of product, the amount of insurance and the duration of payment according to their age, sex and health status and in the event of death, the insurance benefit is paid to the beneficiary they have chosen.

This is life insurance that allows payment of the face amount in case of death. This type of insurance differs from term insurance in that it has additional guarantees such as a surrender value and paid-up insurance.

The death benefit is not taxable but the surrender value might be in the event of withdrawal.

It depends on the type of coverage as well as the insured's age at issue, sex, smoking status and health status.

Yes it is worthy. It can serve for estate planning, income replacement, final expense, inheritance and paying debt.

At any age before the limit for the life insurance product, but earlier is better in terms of cost and also for insurance eligibility (health status).

Life insurance pays out at the death of the insured.

Life insurance will not cover suicide within 2 years.

No, but the tax-free amount can be used to pay for funeral expenses.

The death benefit will be paid, except in the case of suicide.

Yes, the surrender value can be used at any time but taxes may apply.

No, the beneficiary has to be designated. If there is no beneficiary designated, the amount goes to the legal heirs.